The HKMA plays a key role in developing a safe and efficient financial infrastructure in Hong Kong, which is essential to the stability and integrity of the monetary and financial systems. The multi-currency, multi-dimensional platform handles real-time transactions in major foreign currencies and the Hong Kong dollar, and covers diverse financial intermediation channels including banking, equity and debt securities. Hong Kong's financial infrastructure meets the latest international standards, supporting the city's economic development and consolidating Hong Kong's position as an international financial centre.
Financial infrastructures in Hong Kong fall into three broad types:
Payment systems for the settlement of interbank payments;
Debt securities settlement system for the settlement and custody of debt securities; and
Domestic and external system linkages to provide payment-versus-payment and delivery-versus-payment services, locally and across the border respectively.
In response to industry demands and international developments, additional components have been introduced in recent years to broaden the scope and increase the depth of the financial infrastructure in Hong Kong. These included the Faster Payment System, order routing and settlement system for investment funds, and trade repository for over-the-counter (OTC) financial derivatives.
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